5 ms·

Dave McClure: Angel, VC or Pirate?

11 points by jwilliams 18y ago

dbul 18y ago
Answer to the last question: yes. I'm totally planning to take advantage of this service.
thomaspaine 18y ago
I hope Twilio decides to support inbound/outbound faxes. I only need to send and receive faxes a couple times a year, and I would love a pay per use fax service. Every inbound fax-to-email service I've seen uses a subscription model and wants to charge me $10 a month plus setup fees. The only suitable option I've seen so far was faxaway.com, but I can't tell if they're still in operation. I tried signing up online and was hit with the weirdest catch-22 I've ever seen: they wanted me to print out the application and fax it in.
- ryanwaggoner 18y ago
  Check out these: http://www.faxitnice.com http://www.faxitnice.com http://www.faxzero.com http://www.faxzero.com
nikblack 18y ago
"A 30% return (the minimum needed to give LPs a return commensurate with venture risk after the GPs have taken a 20% performance cut) on $1 million is $300,000. A 30% return on $1 billion is $300 million. Basically, unless you land a Google-like winner, it is very, very hard to get a $300 million return." The writer has no idea how a fund works or how to calculate returns. That statement assumes the lifespan of the fund is one year, which it isn't. The lifespan of a fund is usually 5-9 years. When you hear about Sequoia returning 140% on their 2001 fund, that is per annum over the life of the fund. So going by the $1B example. If you have $1B to invest, and have set a target of a 30% return, you need to return $300M each year to your investors. That is almost impossible in years one and two (and even three) so its usually a curved path of returns (that dies down towards the end as the last investments are either killed off or sold for scrap). As for fee's: "Ahem, 2% of $1 billion is $20 million, which should be enough for a coupla Partner Ferraris. " The 2% fee is also per annum. Most funds are not $1B, but they are $150M - $500M, so the fees can really build up. The better funds wont charge fees in years where there were no returns or heavy losses, or in the later years of a fund. As for the actual interview - not much substance there either.

11 points by jwilliams 18y ago

dbul 18y ago

Answer to the last question: yes. I'm totally planning to take advantage of this service.

I hope Twilio decides to support inbound/outbound faxes. I only need to send and receive faxes a couple times a year, and I would love a pay per use fax service. Every inbound fax-to-email service I've seen uses a subscription model and wants to charge me $10 a month plus setup fees. The only suitable option I've seen so far was faxaway.com, but I can't tell if they're still in operation. I tried signing up online and was hit with the weirdest catch-22 I've ever seen: they wanted me to print out the application and fax it in.

ryanwaggoner 18y ago
Check out these: http://www.faxitnice.com http://www.faxitnice.com http://www.faxzero.com http://www.faxzero.com

nikblack 18y ago

"A 30% return (the minimum needed to give LPs a return commensurate with venture risk after the GPs have taken a 20% performance cut) on $1 million is $300,000. A 30% return on $1 billion is $300 million. Basically, unless you land a Google-like winner, it is very, very hard to get a $300 million return." The writer has no idea how a fund works or how to calculate returns. That statement assumes the lifespan of the fund is one year, which it isn't. The lifespan of a fund is usually 5-9 years. When you hear about Sequoia returning 140% on their 2001 fund, that is per annum over the life of the fund. So going by the $1B example. If you have $1B to invest, and have set a target of a 30% return, you need to return $300M each year to your investors. That is almost impossible in years one and two (and even three) so its usually a curved path of returns (that dies down towards the end as the last investments are either killed off or sold for scrap). As for fee's: "Ahem, 2% of $1 billion is $20 million, which should be enough for a coupla Partner Ferraris. " The 2% fee is also per annum. Most funds are not $1B, but they are $150M - $500M, so the fees can really build up. The better funds wont charge fees in years where there were no returns or heavy losses, or in the later years of a fund. As for the actual interview - not much substance there either.